165 of 174 people found the following review helpful
Not so common sense,
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This review is from: Rich Dad, Poor Dad: What the Rich Teach Their Kids About Money (Paperback)
In order to enjoy this book, you'd best put your "capitalist pig" head on. The first sixty pages assume that the best thing you can do from the age of nine is apply yourself to making money. Play baseball? Baseball is for wimps. It's wasting precious time that you could be using applying your brain to thinking up money making schemes. It all started to irritate me, because there clearly is more to life than earning money - but then you wouldn't really be buying this book without wanting to earn a bit more dosh, would you? I'm glad I stuck with it, however, as he does temper this attitude as the book progresses.
You cannot argue with one Kiyosaki's opinions. Our (and the American) education system just does not teach you how to deal with personal finance. If it did, Barclaycard would be in receivership. Understand the value of a pound and make it work for you - it shouldn't be such a distasteful subject. Kiyosaki offers some basic common sense approaches that you could apply in order to make your money work better, but he often qualifies advice by stating the approach may not be right for you. Therefore step one could be Learn to Understand Yourself and Your Motivations. Once you've done that, apply your mind to making money if it interests and excites you. If it doesn't, fair enough. Perhaps the process will help you discover what actually does make you tick.
For those interested in making a stack, then the advice is again about learning. Choose who and what you learn from - teachers, friends, books, tapes, seminars. Look for new approaches. Find people who want to buy and sell something to them. Try to make your profit when you buy, not when you sell. Investigate stocks, real estate, whatever. Find people who can do a good job for you and reward them well. I especially liked his advice that you'll only receive when you learn how to give, and as the book progressed Kiyosaki seemed to "lighten up" a bit more and came across a bit more human. In the later chapters he relates a lot more personal anecdotes and pithy tales about the upsides and downsides of trying to make money. It's not all a bed of roses, but it shouldn't be life or death either. Making money is just a challenge, and you should enjoy it. If you're successful, you can reap the rewards, even if that's choosing to donate it to other people or causes.
In summary, the book is an easy and likeable read. I'm sure most people will get something out it on their road to understanding. Will this book make you rich? Of course not. The only thing that will do that, as the book constantly reminds you, is you, your brain and the action you take.
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Initial post: 23 Apr 2013 15:39:05 BDT
Last edited by the author on 23 Apr 2013 16:40:09 BDT
This is a good book and I agree with the reviewer above but the problem with books like this is that they are too long. The little book The Rich, the Poor & the Foolish gives the same information in far less words.
Posted on 25 Jan 2014 00:43:48 GMT
Mr. John Hopkins says:
Some good info here https://www.youtube.com/watch?v=dgTSX5jxH
Posted on 14 Jul 2014 08:33:08 BDT
Eco Chica says:
Can I just say that we stopped reading the book a third of the way throgh because it was very repetitive and not really getting to the point. However, about a year later, we were invited to a seminar given by the authors representatives and both my husband and myself found the seminar to be the most informative 'money making' lectures we had attended so far. We've been to quite a few and so you can take it from us, the lecture was very good. You mention the tax differences between UK and US, well, pleased to say the lecture was given by a UK 'graduate' of the organisation and her advice was completely UK-centric. There was an option at the end of the lecture to attend their 'academy' but we got the feeling it was a probably a 'dragon's den' sort of set up, so we declined. However, we have wished subsequently that we did fork out the admission and attend. The result is that whenever we receive anything from this author, we tend to give it priority attention. The emphasis at the lecture we attended was 'how to generate a passive income stream' and sorting out common misconception as to whether an asset should be 'income based', 'capital growth based' - or better still, BOTH!!
In reply to an earlier post on 18 Oct 2014 17:33:25 BDT
Ya Kil says:
The book is based on the author's experience living in the US. Some reviewers cringed that it had, near enough, nothing to do with UK laws. To me, that is irrelevant. A Swiss, an Afghani or even a Nigerian person can benefit from his advices and apply them according to laws in their respective countries. I have listened to an audio book summary and this has prompted me to buy the book. As with everything, you are your own (wo)man and make up your own mind. To me, this is another addition to edify myself in how to become financially independent and help those I cherish the most.
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